Europe Contact Center as a Service Market to Hit USD 2,249.0 million by 2027; Rising Focus on Improving Customer Experience by Companies to Propel the Market: Fortune Business Insights™

Pune, Nov. 23, 2020 (GLOBE NEWSWIRE) — The Europe contact center as a service (CCaaS) market size is projected to reach USD 2,249.0 million by 2027, exhibiting a CAGR of 16.4% during the forecast period. The establishment of stringent standards for the delivery of quality communication services in Europe will be a major growth driver for this market, states Fortune Business Insights™ in its report, titled “Europe Contact Center as a Service (CCaaS) Market Size, Share & COVID-19 Impact Analysis, By Function (Interactive Voice Response (IVR), Multichannel, Automatic Call Distribution, Computer Telephony Integration (CTI), Reporting and Analytics, Workforce Optimization, Customer Collaboration, and Others), By Organization Size (Small & Medium Enterprises and Large Enterprises), By Industry (BFSI, IT and Telecommunication, Government, Healthcare, Consumer Goods and Retail, Travel and Hospitality, Media and Entertainment, and Others), and Country Forecast, 2020-2027”.Click here to get the short-term and long-term impact of COVID-19 on this market.
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In order to address the growing customer dissatisfaction with companies’ customer support services, the European Standardization Institute (CEN) drew up the European Contact Center Standard (ECCS) in 2010. The ECCS laid down the guidelines and parameters that contact center service providers had to comply with and since its inception, the ECCS has toughened and gotten more watertight. For example, it measures contact centers on the basis of comprehensive Key Performance Indicators (KPIs) such as customer satisfaction and average handling time. Furthermore, the ECCS also monitors the quality of treatment received by customers by contact center agents. The increasing stringency of these regulations is forcing CCaaS providers to maintain high standards, which is fueling the Europe contact center as a service market growth.The COVID-19 pandemic has caused unfathomable upheavals across industries and businesses around the world. Lockdowns and social distancing have halted economic activities, disrupting supply chain networks and pushing down demand for goods and services globally. Governments and private organizations are taking multiple efforts to manage this crisis, but uncertainty and anxiety remain widespread. However, collective strength and unity will help us tide over these hard times. At Fortune Business Insights™, we are constantly endeavoring to provide you with comprehensive research on various markets so as to equip your business with the necessary intelligence to emerge victorious on the other side of this crisis.As per the report, the market value stood at USD 670.9 million in 2019. The highlights of the report include:Holistic analysis of the market drivers, trends, and opportunities;Actionable insights into the challenges facing the market;Careful examination of each market segment; andIn-depth study of the regional developments & the competitive landscape of the market.
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Market DriverIncreasing Preference for Cloud-based CCaaS Solutions to Boost the MarketSeveral companies in the contact center industry are gradually transitioning towards cloud-based contact centers owing to the wide-ranging benefits offered by cloud technologies. For example, cloud solutions are allowing companies to reduce their operational costs as these cloud deployment of CCaaS eliminates the fixed costs incurred by on-premise products such as maintenance expenses and licensing fees. Further, cloud-based contact center solutions can be deployed quickly and accessed immediately by customers as they are delivered through virtual channels. Another significant advantage of cloud models is that they allow remote working, which has gained immense prominence during the current COVID-19 pandemic. Lastly, cloud CCaaS models equipped with artificial intelligence (AI) can optimize operations through capabilities such as automatic call distribution, thus enhancing efficiency and ensuring improved customer satisfaction. These advantages are stoking the adoption of cloud contact center services and solutions across Europe.Regional InsightsExtensive Outsourcing of Services to Fuel the Regional MarketEurope is leading the global contact center as a service market share owing to the widespread outsourcing of contact center services by companies in the region. In the Nordic countries, for example, companies are developing high-quality, service-oriented CCaaS products, which they are readily outsourcing to reduce costs. In Germany and France, on the other hand, linguistic call center services are dominant as companies in these countries prefer providing communication services in the local languages. Offshore outsourcing of contact center services is allowing the UK to hold a prominent position in the Europe contact center as a service market. In 2019, the country’s market size stood at USD 170.0 million.
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Competitive LandscapeForging of Alliances between Key Players to Energize the MarketWith an aim to enlarge their share and presence, key players in this market are forming alliances and partnerships with each other to enhance their innovation capacities. Most of the companies, however, are focused on developing and launching advanced cloud CCaaS products.Industry Developments:May 2020: Akio was selected by Alcatel Lucent Enterprise to design and develop a Hybrid CCaaS solution using its omillionichannel expertise. This will allow Alcatel’s customers to leverage cloud-based applications for managing multiple digital channels to their PBX to optimize the processing of all customer service requests.October 2019: Aspect Software announced the release of the next version of its flagship Cloud Contact Center as a Service system. The new version is an upgrade to its Aspect Via® platform and now includes enhancements and customer-oriented capabilities to the Workforce Optimization and Contact Center suites.   List of Key Companies Profiled in the Europe Contact Center as a Service Market Report:Odigo SAS (France)Vocalcom Group. (Paris, France)Puzzel AS (Oslo, Norway)Five9, Inc. (California, United States)Dixa Services (Copenhagen, Denmark)Bright Pattern, Inc. (California, United States) Altitude Software (Lisbon, Portugal)Genesys Telecommunications Laboratories, Inc. (California, United States)CONTENT GURU LIMITED (Bracknell, United Kingdom)8×8, Inc. (California, United States)Vonage Holdings Corp.(New Jersey, United States)inConcert Group (California, United States)Enghouse Systems Limited (Markham, Canada)Diabolocom SAS (Levallois-Perret, France)Aspect Software, Inc.(Arizona, United States)Orange Business Services (Paris, France)NICE Ltd. (Ra’anana, Israel)Akio (Paris, France)
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Major Table of Content:IntroductionDefinition, By SegmentResearch Methodology/ApproachData SourcesKey TakeawaysMarket DynamicsMacro and Micro Economic IndicatorsDrivers, Restraints, Opportunities and TrendsImpact of COVID-19Short-term ImpactLong-term ImpactCompetition LandscapeBusiness Strategies Adopted by Key PlayersConsolidated SWOT Analysis of Key PlayersPESTLE AnalysisPorter’s Five Force AnalysisEcosystem Analysis Europe Market Share Analysis and Matrix, 2019Key Market Insights and Strategic RecommendationsCompanies Profiled (Provided for 10 players only)OverviewKey ManagementHeadquarters etcOfferings/Business SegmentsKey Details (Key details are subjected to data availability in public domain and/or on paid databases)Employee SizeKey FinancialsPast and Current RevenueGross MarginGeographical ShareBusiness Segment ShareRecent DevelopmentsPrimary Interview ResponsesAnnexure / AppendixEurope Contact Center as a Service (CCaas) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027By Function (Value)Interactive Voice Response (IVR)MultichannelAutomatic Call DistributionComputer Telephony Integration (CTI)Reporting and AnalyticsWorkforce OptimizationCustomer CollaborationOthers (Recording, Dialer, etc.)Organization Size (Value)Small & Medium Enterprises (SMEs)Less than 5050 to 250Large Enterprises251 to 500501 to 1000More than 1000By Industry (Value)Banking, Financial Services, and Insurance (BFSI)IT and TelecommunicationsGovernmentHealthcareConsumer Goods and RetailTravel and HospitalityMedia and EntertainmentOthersBy Country (Value)United KingdomGermanyFranceItalySpainRest of EuropeTOC Continued..
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